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Assignment No.6 Project Management

This document is an assignment from New Era University regarding project management. It contains questions about defining project management, roles and responsibilities of a project manager, and the five phases of project management. It also asks how to handle multi-projects and discusses the importance of project management. The student provides detailed responses to each question drawing from several references.

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Patricia Cruz
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93 views

Assignment No.6 Project Management

This document is an assignment from New Era University regarding project management. It contains questions about defining project management, roles and responsibilities of a project manager, and the five phases of project management. It also asks how to handle multi-projects and discusses the importance of project management. The student provides detailed responses to each question drawing from several references.

Uploaded by

Patricia Cruz
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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New Era University.

College of Accountancy
SCHOOL OF MANAGEMENT
No.9 Central Avenue, New Era, Quezon City 1107 Philippines
Tel. Nos. (632) 8981-4227/Fax: (632) 8981-4240
E mail add: [email protected]

Title of the Activity:


Assignment Nos.6 Project Management

Submitted by: Submitted to:


Patricia Nicole Y. Cruz Prof. Mario Brillante Wesley C. Cabotage

Date Submitted: September 22, 2021

Section Schedule: 2BSA-4(TF-5:30-7:00 PM)


Please answer the following questions and submit on the deadline date.

1. What is project management?


Project management is the process of planning and organizing a company's
resources in order to accomplish a specified work, event, or duty. Personnel, funds,
technology, and intellectual property were some of the resources managed, and it might
be a one-time venture or an ongoing activity. Project management is commonly linked
with professions such as engineering and construction, as well as, more generally,
healthcare and information technology (IT), all of which involve a comprehensive set of
components to be completed and assembled in a specific timeline to provide a working
solution.

Every project, from start to completion, need a structure that indicates how things
will get off the ground, how they will be produced, and how they will be completed. In
architecture, for example, the design begins with an idea, develops to drawings, and then
to blueprint drafting, with number of small pieces merging together in between. One
person, the architect, is only one piece of the puzzle. The project manager is in charge of
putting everything together.
Almost every project has a budget and a deadline. Project management ensures that
everything stays on track, on schedule, and on budget. That ensures that when the
project's timeline approaches, the project manager may keep all of the team members
working on the project to guarantee that it is completed on time.
2. Enumerate the roles and responsibilities of a project manager
Roles and Responsibilities of a Project Manager
• Activity and Resource Planning
• Organizing and Motivating a Project Team
• Controlling Time Management
• Cost Estimating and Developing the Budget
• Ensuring Customer Satisfaction
• Analyzing and Managing Project Risk
• Monitoring Progress
• Managing Reports and Necessary Documentation
• Activity and resource Planning
• Creating clear and concise plan
• Organizing and Motivating a Project Team
• Stimulating the team to reach their full potential
• Controlling Time Management
• Set realistic deadlines
• Cost Estimating and Developing the Budget
• Keeping the project within its budget
• Ensuring Customer Satisfaction
• To involve their clients in the project as much as possible
• Analyzing and Managing Project Risk
• To avoid risks or at least minimize the impact
• Monitoring Progress
• Clear vision and high hopes of producing the desired results
• Managing Reports and Necessary Documentation
• Comprehensive reports documenting that all projects were fulfilled
3. What are the five phases of project management? Explain
 Project Initiation
The project initiation phase is the initial step in developing a vague concept into
a concrete objective. You must create a business case and outline the project on
a general level at this stage. To accomplish so, you must first determine the
project's need and then create a project charter.

 Project Planning
The project planning step needs detailed attention because it maps out the
project's road map. Unless you're implementing a current project management
approach like agile project management, the second phase of project
management is likely to consume about half of the project's total time.

 Project Execution
The actual job is completed by your team during the project execution stage.
Your role as a project manager is to set up effective procedures and focus attention
on your team's performance. Keeping excellent collaboration among project
stakeholders is another priority of the project manager during this phase. This
keeps everyone on the same track and ensures that the project goes as planned.

 Project monitoring and control


The third and fourth phases of the project management process are not
systematic. The project monitoring and control phase occurs concurrently with
project execution, ensuring that project objectives and deliverables are met. By
creating Critical Success Factors (CSF) and Key Performance Indicators as a
project manager, you may ensure that no one deviates from the original plan (KPI).

During the project management monitoring phase, the manager is also in


capable of ensuring a quantifiable monitoring of the effort and expense. This
tracking is necessary not just for ensuring that the project stays on budget, but also
for future initiatives.
 Project Closing
The project management process has now reached its conclusion. The project
closure stage occurs after the final delivery and acknowledges the end of the
project. External talent is occasionally hired on a contract basis expressly for a
project. The project manager is also in charge of terminating these contracts and
submitting the relevant paperwork. After the project is completed, most teams
attend a reflection meeting to discuss their achievements and shortcomings. This
is a key factor in ensuring that the company is always improving in order to boost
the team's total performance in the future.

This phase's final responsibility is to review the entire project and prepare a
complete analysis that encompasses all aspects. All of the relevant information is
kept in a secure location accessible only by the organization's project managers.

4. How to handle a multi-project?

In handling multi-project, we must consider a strategy so that it will become intact


successful. Planning is the most important in this aspect, when you're in charge of several
projects, you can't afford to take any mistakes. It is necessary to plan ahead for every
possible eventuality and have contingency plans in place in case things go wrong. To be
successful on all fronts, you must set acceptable expectations for yourself and your team.
Prioritizing tasks is also a must. It's important to understand how to prioritize tasks in a
project and when to do so. The project manager must be able to determine which tasks
will have the most influence on the organization and successfully prioritize them. You can
also arrange work in separate projects that are repetitive or similar. This allows you to
work on multiple projects in the strictest sense of the word. It makes no sense to cling to
the original plan regardless of the circumstances. Flexibility is a critical characteristic of a
successful leader. When you're in charge of several projects, there are a lot of unknown
variables that might shift your entire outlook. To effectively complete all of your projects,
it's a good idea to organize regular review sessions when you update the implementation
proposal.
5. What is the importance of project management?

Project management's importance in businesses cannot be emphasized.


When done correctly, it enhances the productivity of every aspect of the firm. It empowers
up your team to focus on the job that matters, rather than being distracted by projects that
go off course or budgets that run out of control. It allows them to achieve results that have
a direct influence on the company's bottom line. It also allows your staff to recognize how
their efforts contribute to the company's long-term objectives.

Reference/s:
Alexander, M. (2021, July 5). Cio. Retrieved from What is a project manager? The lead
role for project success: https://www.cio.com/article/3224865/what-is-a-
projectmanager-the-lead-role-for-project-success.html
Kiss flow. (2021, August 24). Retrieved from 7 Strategies to Manage and Track Multiple
Projects at Once: https://kissflow.com/project/how-to-manage-multiple-projects/
MANSA, J. (2021, March 31). Investopedia. Retrieved from Project Management:
https://www.investopedia.com/terms/p/project-management.asp
New Era University. (n.d.). Retrieved from Module 7 Project Management:
https://collvle.neu.edu.ph/mod/book/tool/print/index.php?id=13810
Teamwork. (n.d.). Retrieved from Why is project management important?:
https://www.teamwork.com/project-management-guide/why-is-
projectmanagement-important/
Teamwork. (2021, August 30). Retrieved from https://kissflow.com/project/five-phasesof-
project-management/: https://kissflow.com/project/five-phases-of-
projectmanagement/

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